In life sciences businesses today, intense competitive pressure is mandating greater speed to market and shrinking product life cycles. With the strategic focus on getting as many new products as possible into as many customers’ hands as possible, risk management and mitigation is often a low priority — until an adverse event occurs.
If you’re a smart procurement professional, you won’t wait for that adverse event — you’ll create a well-structured system for de-risking your supply chain and enhancing your company’s overall competitive advantage. OK, great — but where to start?
Our new paper, Risk Mitigation: Six Preventive Strategies for Life Sciences Procurement, is a thorough introduction to the approaches and strategies that will help you actively monitor risk while filling the gaps that many companies miss, especially with regard to suppliers and external partners.
Included in this paper:
- Making risk evaluation a key priority in the supplier selection process
- Incorporating contingency plans into category strategies
- Developing closer collaboration with legal and compliance teams
Read today, and start helping your business operate in a far healthier and lower-risk environment.